Ahead of the Corporate Governance Forum 2025, which will take place in New York on Thursday, November 6, Governance Intelligence has spoken to some of the event’s leading speakers to find out what they see as the emerging corporate governance trends of 2025.
Maria Doughty is the president and CEO of women’s leadership non-profit The Chicago Network, as well as a member of the board of directors of the Chicago Council on Global Affairs and a member of the board of trustees of Roosevelt University. Set to speak on a panel titled ‘Creating an effective board: Recruitment, onboarding, culture and training in a competitive landscape’, she tells us below about her career and the board recruitment issues she will discuss in more detail in November.
Which aspects of this topic are you keen to explore?
I am particularly keen to explore how to attract diverse and skilled board members in today’s competitive environment and how to ensure that onboarding processes set them up for success. Financial and specific industry expertise are often two key criteria for board recruitment. It seems like everyone is looking for audit chairs. However, directors who demonstrate the agility to adapt seamlessly to constantly evolving challenges are truly invaluable to any organization.
Equally important is discussing how to foster a strong, inclusive board culture and providing ongoing development opportunities that keep the board engaged, nimble and forward-thinking. Encouraging an open-minded and collaborative approach among directors is essential to cultivating a positive and dynamic board culture.
What else are you looking forward to discussing at the event?
I am looking forward to hearing different perspectives on how organizations of various sizes approach board recruitment and development.I am also eager to discuss emerging trends in board training and how to keep board members motivated and aligned with the organization’s mission over time.
Another key interest lies in adaptive leadership: it is crucial for leaders to remain effective when the path forward is ambiguous. It involves being agile and maintaining a board perspective. The question then becomes How do I lead with intentionality when faced with unpredictable challenges that demand adaptation, all while staying true my personal and organizational values?
Finally, it is essential to consider the timing of pursuing board service. The ideal period often coincides with holding a senior executive position, as this ensures you maintain a current understanding of industry dynamics and emerging trends.
What are some memorable experiences or projects in your career that have had a significant impact on you?
A pivotal milestone in my career was becoming an attorney. As the daughter of Italian immigrants who spoke little English when I started kindergarten, my parents – two of the smartest people I know, despite having limited formal education – believed deeply in education as a way to open doors. They made it their mission to provide my sister and me with the best possible educational opportunities. My passion for practicing law has empowered me to advocate not just for myself, but for others. My love of learning also drives me to explore how the impossible can be probable.
One of the most memorable projects in my career was during my time at Allstate Insurance Company, where I managed litigation and regulatory challenges following Hurricane Katrina. That experience taught me how to handle complex problems and recognize the importance of a broader strategic vision when tackling tough obstacles.
What are some of the biggest challenges you’ve faced in your career so far – and what challenges do you anticipate facing soon?
One of the biggest challenges I’ve faced professionally is balancing the need for effective governance – ensuring that processes, compliance and oversight are in place to meet organizational goals – while at the same time fostering agility and adaptability in a fast-changing environment. It requires a careful balance of structure and flexibility, making sure that we stay compliant and aligned with strategic goals, but also nimble enough to pivot quickly and respond to new opportunities or hurdles as they emerge.
Also, I would be remiss if I didn’t raise the issue of gender equity. The percentage of all women on for-profit boards continues to steadily increase, but that rate has slowed since 2023, according to the 202450/50 Women on Boards report. At the current rate, gender parity in the boardroom isn’t expected until nearly 2050. We know board diversity is essential to strong governance, innovation and profitability.
Looking forward, I believe the next big challenge will be ensuring boards stay ahead of technological disruption and foster innovation while still maintaining strong oversight and strategic direction.
If you were to give your audience at the Corporate Governance Forum one piece of advice, what would it be?
If you haven’t already, I highly recommend exploring service on a non-profit board. At senior executive levels it is essential to invest in the communities in which you work, live and serve. This experience offers tremendous personal and professional growth and aligns closely with causes you are passionate about, making it deeply fulfilling. Additionally, nonprofit board service can be an excellent stepping stone for those seeking opportunities on for-profit boards, as it demonstrates governance experience and a commitment to broader community impact.
How do you keep up with the latest trends and developments in your industry?
As CEO of The Chicago Network, I’m very fortunate to have a finger directly on the pulse of hundreds of senior executive women leaders in one of the most influential markets in the country. For almost 50 years women from dozens of industries – including law, finance, healthcare, media and technology – have connected for networking, mentorship, advice and inspiration, sharing personal and professional challenges and accomplishments. Board service is part of our DNA, with all members serving or having served on corporate or non-profit boards. There is no question too small and no topic off-limits. The supportive nature of leadership organizations like ours helps to ensure women continue to serve as role models and facilitate collaborative partnerships.